Chelmsford Homeowners 124% More Likely To Live in a Home with 3+ Bedrooms than those that Privately Rent

The conventional
way of categorising property in Britain is to look at the number of bedrooms
rather than its size in square metres (square feet for those of you over 50!).
My intuition tells me that homeowners and tenants are happy to pay for more
space. It’s quite obvious, the more bedrooms a house or apartment has, the
bigger the property is likely to be. And it’s not only the tangible additional
bedrooms, but those properties with those additional bedrooms tend to have
larger (and more) reception (living) rooms. However, if you think about it,
this isn’t so surprising given that properties with more bedrooms would
typically accommodate more people and therefore require larger reception rooms.

In
todays Chelmsford property market, the Chelmsford homeowners and Chelmsford
landlords I talk to are always asking me which attributes and features are
likely to make their property comparatively more attractive and which ones may
detract from the price. Over time buyers’ and tenants’ wants and needs have
changed.

In Chelmsford,
location is still the No. 1 factor affecting the value of property, and a property
in the best neighbourhoods can achieve a price almost 50% higher than a similar
house in an ‘average’ area. Nevertheless, after location, the next
characteristic that has a significant influence on the desirability, and thus
price, of property is the number of bedrooms and the type (i.e. Detached/Semi/Terraced/Flat).

The number of bedrooms for owner-occupiers very much depends on the size of the family and the budget, whilst Chelmsford landlords have to consider the investment opportunity. In this article, I have analysed Chelmsford’s housing stock into bedrooms and tenure. Initially looking at Chelmsford homeowners..

And now the Private rented sector …

It can quite clearly be seen
that Chelmsford owner-occupiers tend to occupy the larger properties with more
bedrooms. This would be expected due to the demographic of homeowners and
people that privately rent.

However, this shows there
could be opportunities for Chelmsford buy to let landlords to purchase larger
properties with more bedrooms to attract tenants requiring properties with more
bedrooms. However, before you all go buying larger 4 bed and 5 bed mansions to
rent them out, a lot of bigger properties in Chelmsford don’t make financial
sense when it comes to buy to let.

For numerous years Chelmsford buy
to let landlords have been the lone buyers at the smaller one and two bed
starter homes of the market, as they have been lured by elevated tenant demand
and eye-catching returns. Some Chelmsford landlords believe their window of
opportunity has started to close with the new tax regime for landlords, whilst
it already appears to be opening wider for first time buyers. This is great
news for first time buyers .. but one final note for Chelmsford landlords ..
all is not lost .. you can still pick up bargains, you just need to be a lot
more savvy and do your homework ..one source of such information with articles
like this is the Chelmsford Property Market Blog www.chelmsfordpropertyblog.co.uk

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Welcome

This blog follows the buy-to-let market in Chelmsford. You'll find tips, guidance, and analysis that relates specifically to Chelmsford and you'll also find properties from all the estate agents in the town on here that may make decent investments. I operate Martin and Co in Chelmsford and if you're thinking of buying a property to let in Chelmsford, I'm happy to offer a second opinion.

Meet the Author

Stephen Frost
Hi, and thank you for visiting this blog. I have been in the Chelmsford Property market since 2008, owning and running with my excellent colleagues, the Martin and Co office in Chelmsford.
I have always shared my thoughts on the local property market in Chelmsford with my landlords, but now I want to share with everyone in the town.
On this blog, Emma and I will talk about what is happening in the town's property market itself, even looking at specific streets or housing estates. At other times, we will post what we consider decent buy to let deals. Some will be on the market with me (as we also sell property), but others will be on the market with other agents in Chelmsford. We like to look at the whole of market and give you, what we consider the best investment opportunities.
Stephen

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